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Adam Smith in His Time and Ours, byJerry Z. Muller

- Abstract

For Aristotle, politics was the highest sphere of human activity because it regulated and directed conduct toward the communal (as opposed to the individual) good:

For even if the good of the community coincides with that of the individual, the good of the community is clearly a greater and more perfect good both to get and to keep.

Commerce, on the other hand, was bad in Aristotle’s eyes:

In the community that is most finely governed, the citizens shall not live a vulgar or a merchant’s way of life, for this sort of life is ignoble and contrary to virtue.

About the Author

George Russell is the executive editor of Fox New Channel.